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By Conor Shine (contact) 
Tuesday, Sept. 6, 2011 | 11:18 p.m.
Henderson Mayor Andy Hafen
Henderson City Council hears stadium proposal
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The Henderson City Council heard a proposal Tuesday night to build a multi-billion dollar sports complex off I-15 near the M Resort.
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- Henderson to hear proposal for stadium complex near M Resort (9-1-2011)
- Sports complex proposal in Henderson a ‘done deal’ (8-11-11)
- Proposal emerges to build three-stadium complex in downtown Las Vegas (2-8-2011)
- UNLV athletic department sees on-campus stadium as a game-changer (2-1-11)
- Developers put early plans for UNLV stadium, retail district on display (2-1-11)
- Regents to hear UNLV arena plan for football, basketball (1-31-11)
- Mayor: UNLV domed stadium wouldn’t conflict with a downtown Las Vegas arena (1-27-2011)
- Report: UNLV domed stadium plans will be unveiled Tuesday (1-27-2011)
- Goodman: Arena project a key issue for next Las Vegas mayor (1-20-2011)
- UNLV acknowledges effort to bring stadium, football to campus (1-19-2011)
- Mayor: Sports arena ballot petition 'irrelevant' to city arena efforts (11-18-2010)
A developer’s plan to build a multi-billion-dollar sports complex in Southern Nevada took a small step forward Tuesday night at a Henderson City Council meeting.
Representatives from Las Vegas National Sports Complex LLC, led by developer Christopher Milam, presented plans for a multi-phased project that would eventually see four stadiums built on 485 acres of federal land east of Interstate 15 and just south of the M Resort in Henderson.
The council approved an agreement to allow the developer to move forward with feasibility and design studies and supported an application from the developer to buy the land from the Bureau of Land Management.
The first phase of the project would see a 17,500-seat enclosed arena and a 25,000-seat open-air stadium built at a cost of $1.3 billion.
Lee Haney, a representative for the developer, said the two buildings would be capable of supporting an NBA team and a professional soccer team and would be targeted for completion in 2014.
The project would be privately financed but ownership of the stadiums and land would be transferred to the city upon completion and leased back to the developers to allow the city to issue bonds to help pay for the stadiums.
The project bonds could come in one of many forms, including via a tourism improvement district, a tax increment area or a user fee on tickets, food and beverages.
A second phase, to be completed later, would involve a 63,500-seat domed stadium designed for an NFL team and a baseball stadium to host the Las Vegas 51s or another professional baseball team.
Investment banks Morgan Stanley and Goldman Sachs would help finance the project, but there are no formal commitments from the banks yet, Haney said.
“They feel confident...that they will not have any problem raising the equity that’s required for this project,” Haney said. “Although we don’t have written commitments to date, we feel those are forthcoming.”
City officials emphasized that there would be no tax increases associated with the project.
Haney estimated that the project would create about 10,000 jobs during construction and another 4,000 permanent jobs.
Talks of building a stadium in Southern Nevada have abounded for years, but several proposed projects in Las Vegas and Clark County have failed to materialize.
Haney said the Henderson location is ideal because of its large size, visibility and easy access from I-15, St. Rose Parkway and Las Vegas Boulevard.
Mayor Andy Hafen said Tuesday night’s agreement was only the beginning of the negotiation process and allows the city and developer to study the viability of the site.
He said the proposed complex, if built, would be a boon for Henderson.
“Jobs. Economic development. What mayor, what city wouldn’t want to have an arena and a stadium of this caliber?” he said. “I really think this could work for Southern Nevada. But we’ll do our due diligence. The big thing is going to be...how much risk the developer is going to be able to take on and how much risk, if any, do we, the city, take on.”
I personally would never attend a sporting event at any of these facilities. I support UNLV and couldn't imagine watching pro soccer or basketball at an arena that is smaller than the Thomas and Mack. Also,they fund it then give it to the city only to lease it back and have tax districts pay for it? So with this being in Henderson does this mean that Henderson's taxes are going to take the burden of paying for these money pits?
I guess it should not be built since rebelmadness is not going to attend any sporting event there. What about your Rebels? Have you thought about March Madness, maybe with state of the art facilities we may be able to get college basketball here in March.
There are so many events that can be housed in a new stadium. As a city we are about to loose events because the Thomas and Mack is old and out dated. This can bring much needed money to the valley as well as give us something to do other than gamble in a casino.
I came from an area where they built a new areana and it turned a dead part of town into a great place to spend an evening. What we have in this city now is the Strip, as a local try going down there. It would be nice to have an entertainment district where people who live here can use and avoid the tourists.
For everyone who have negitive thoughts about this, don't use it. Enjoy PT's or Sam's Town with rebelmadness and live in the 1980's.
The financing arrangement is terrible and the city of Henderson should hire its own expert. Let the developers bear the entire cost of development without the city getting involved in selling bonds. The city is rushing into this recklessly. Get some impartial experts here to advise the city.
You're fired is all I hear coming out of LV and NLV. Glad to see H-Town say YOU'RE HIRED.
I think there is a better chance of seeing Henderson Mayor Andy Hafen playing Pick-up Stix with his butt cheeks than seeing these stadiums get built.
But if it can somehow get done without taxpayer funds, then I am all for it.
what's the problem Noindex??? overwhelmed with paying state income taxes?? Seems to me some people in this town still haven't learned the lesson that money doesn't grow on trees...probably still convinced they should own a huge mansion and drive a 'rad' hummer while working at wal-Mart... I'm pumped that there are still guys out there like Milam who have a vision, and haven't caved to the negativity and 'debbie downers' of Las Vegas....
I think the idea is good, but I too wonder how maintenance of this facility will be funded long term by the City of Henderson when we are still in an economic slump.
Does anyone remember the last time the NBA came to Las Vegas? It was a disaster. Casino and restaurant employees were terrified of being popped of by gang members, customers left restaurants without paying their bills and generally the rest of us felt unsafe to be in the vicinity.
My question is how does the city plan on providing security and safety for the people who work in the stadiums and the surrounding communities on this magnitude? Henderson is going to need a much larger police force than it currently has, and who is paying for that?
Actually nolocal, the last time someone wanted to build stadiums outside of UNLV. They had the expectations of leaching off of UNLV athletics. First of all College sports should be played on college campuses. One of the beautiful things that would have been from the UNLV plan was that it would have increased the amount of housing for UNLV Students.
The previous proposed stadium wanted UNLV to pay to play at the site and wanted partial proceeds for use of the facilities. We are not in a BCS conference and just finally got the atheletic program in the black. So why would UNLV want to pay to play in these new facilities.
As far as outdated some places have history and that is what makes them great. Why hasn't Boston Red Sox built a new park....because the monster is history.
Another thing your not keeping in mind is by building on campus more students can attend and the convenience to the airport. One thing people complain about the current football field is that it's too far from campus.
My point about not attending the events....I have no interest in soccer. Do we have enough people in this town that would even support a soccer team? This town as a whole is so transient that people support home town teams from all over. You might get someone to go see their team play a vegas team but chances are your not going to get many season ticket holders. They want to build these facilities with talk about pro teams....but they have no pro teams lined up....they don't even have financing lined up.
You can bet that if these are built they will be a money pit and only drain the economy faster then the benefit they tried to provide by being built. Just because they are being built doesn't mean that they will use Las Vegas workers either...might be cheaper to import non-union labor.
But no worries Henderson you have fun leasing facilities without major sports teams...because if they do get a major sports team here it will only fold and leave once their contractual obligation is up.
rebelmaddness08.
I don't want to see UNLV move to the new stadium. I believe it should stay on campus and the Thomas and Mack is fine for what the Rebels are. I am thinking about March Madness. A new stadium could bring the sweet 16 or the elite 8 to town.
As for the people who fear an NBA team after the troubels the All Star game brought. Those thugs came for the All Star game. I really dont think we would have issues like that if we had a NBA team here. Oklahoma City and Memphis seem to be doing ok with their teams.
Why put a city's financial health on the hook? If the project is such a moneymaker, then private financing should be available.
The last time I checked we have no pro sports teams that could put such a facility to use enough to justify venues like these anywhere in The Valley.
If a soccer team wants to come here let them play at UNLV stadium for a few years to see if they can build a solid fan base enough to justify this project. The 51's can't sell-out Cashman Field on a regular basis even on dollar beer or hot dog night. The NBA is not coming to Vegas, and neither is the NHL.
I hardly think a few concerts, and maybe a special sporting event or two justifies this project. Let a team commit to this area first, then think about building a stadium on their dime.
The City of Henderson cannot afford to spend a dime for this setup. Let the developers go hack to Wall Street and get the entire funding from them. The taxpayers will not be involved with floating any bonds. Period. If the big guys on Wall Street won't provide any financing then you know the deal is bad. As a taxpayer I would not support this project. Sorry Milam..you will just have to try harder.
So the people of Henderson are lending the city's credit to this venture? In other words, they are co-signing for these people? Doesn't everybody know what happens to co-signers?